ICAI in its -Budget Memorandum – 2014 on Direct Taxes suggested imposition of TCS @1% on sale of all motor vehicles to increase the tax base in India. Issue/Justification India was the sixth largest motor vehicle/car manufacturer in the world in 2012. The sales of motor vehicles have increased manifold times since 2009. In fact […]
Issue/Justification There are classes of persons who are filing income tax returns but are not declaring their income properly. Either the income is suppressed or various deductions are being claimed which are not legally permissible. With the increase in the work of the Department it is not practicable to scrutinize each and every return. Taking […]
About 72 lakh Self Help Groups(SHGs) of women promoted by NABARD be exempted from service tax for the services rendered by them to small farmers etc, tax benefit limit for health insurance be suitably raised, tax exemption under Section 80C of the Income Tax Act be raised
Appointment of Company Secretary is required the following type of Companies :- a. Listed Companies b. Public Limited Companies having paid up capital more than 10 Crores c. Companies having paid up share capital of five crore rupees or more
No company shall declare dividend unless carried over previous losses and depreciation not provided in previous year or years are set off against profit of the company of the current year
I once again reiterate that the Companies Act, 2013 would create a need based requirement of company secretaries in the light of its provisions such as registered valuers, interim administrators, enhanced penalties, enhanced disclosure requirements and so on, besides the mandates such as secretarial audit, certification of e-forms and other documents. I appeal to all our members to make use of the facilities and participate in capacity building programmes across the nation to learn the implementation of the Act effectively and to create further opportunities for ourselves.
Who can use this ITR-2 Return Form for Assessment Year 2014-15? This Return Form is to be used by an individual or a Hindu Undivided Family whose total income for the assessment year 201 4-15 includes:- (a) Income from Salary / Pension; or (b) Income from House Property; or (c) Income from Capital Gains; or
Notification No. 31/2014-Income Tax S.O. 1498(E)- In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income Tax Act, 1961 (42 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes published in the Gazette of India, Extraordinary, vide number S.O. 709(E), dated the 20th August, 1998, namely:-
Attention of the Ministry has been drawn to difficulties being faced by stakeholders while filing form INC-27 for conversion of a public company into a private company. The relevant provisions of Companies Act, 2013 (second proviso to sub-section (1) and sub-section (2) of section 14) have not been notified.
Allocations projected in the Interim Budget 2014-15, are generally not altered. However, cases of schemes/ decisions which have the effect of raising expenditure commitments, may be sent to the Budget Division for examination. In case the additionality is agreed to by this Ministry, then revised Statements of Budget Estimates (SBEs) would need to be forwarded to Budget Division.
